With this sale, Boston Properties says its total asset sales for the past two years tallies $4.1 billion. And, so far this year, the company is ahead of its budgeted $500 million in asset sales at $580 million, primarily because of the nice prices the properties have fetched. [Prabha Natarajan]

... The architect of the Washington Nationals stadium is drafting plans for another property in the neighborhood.

HOK Sport was hired by DRI Development Services to draw up plans for Square 696, five blocks north of the stadium in Southeast D.C. The site will be redeveloped as a four-building office-and-retail complex.

DRI, a Transwestern company based in D.C., bought the property with a partner in April for $70 million. The site, half of which was a former timber yard, is already approved for 825,000 square feet of development. DRI is waiting for HOK to complete the preliminary design before the property hits the market. DRI has retained Mark Richardson, a senior vice president with Transwestern's D.C. office, as broker.

Construction on the first building is expected to start next year, with a completion target of the fourth quarter of 2009. [Prabha Natarajan]

... MedImmune Inc. is seeing the first wave of executives flow out of the company since its sale to British pharmaceutical AstraZeneca PLC.

While a press release marked the departure of MedImmune founder and Chairman Wayne Hockmeyer, the next two execs quietly moved on.

Lota Zoth, the company's senior vice president and CFO, and Sidney Mazel, its senior vice president of product planning and portfolio management, recently left to little fanfare.

MedImmune declined to comment on the two management changes.

Zoth, who started with the company in 2002 after stints at PSINet Inc. and Marriott International Inc., was MedImmune's fifth highest-paid executive last year, making nearly

$1 million in pay. Per her employment agreement, she took home almost $2.1 million in cash and benefits because the company changed ownership.

Mazel was first recruited in June 2006 to oversee the company pipeline's long-term strategic planning. But the Merck & Co. Inc. alum's tenure lasted little more than a year. [Vandana Sinha]

... With fewer than eight months left before their new ballpark is scheduled to open, the Washington Nationals have selected Centerplate to operate the facility's regular concessions and premium food service, according to several industry sources.

As of last week, the Nationals and Centerplate were still negotiating contract terms for the $611 million stadium. The food provider has chosen Dac Carbone to supervise the D.C. operation, sources said. Carbone has been Centerplate's general manager at Invesco Field in Denver.

Officials with the Nationals and Centerplate would not confirm the information. "We're not ready to make a comment or announcement," says a team spokeswoman.

Centerplate has a major presence in Washington, with accounts at FedEx Field and the Washington Convention Center, and sources say the company competed aggressively to secure a new MLB client to replace the New York Yankees, the firm's biggest account, representing roughly 10 percent of Centerplate's business.

In Washington, the Nationals are cutting it close in terms of giving a food provider time to adequately prepare for Opening Day in April without having it turn into a "fire drill to get everything done on time," one source said. [Don Muret]

... Millennium Bankshares Corp., which has struggled amid the slumping residential mortgage and housing sectors, continues to beef up its staff with executives from other Northern Virginia banks that are performing well. The Reston holding company for Millennium Bank has hired Ricardo Balcells as senior vice president of business development.

Balcells worked at Arlington-based Virginia Commerce Bancorp Inc. for 11 years, most recently as a senior vice president. Ed Lull, formerly a vice president with Virginia Commerce, where he worked for nine years, joined Millennium Bank this month as senior vice president of lending.

Millennium Bankshares reported a net loss of $251,000 during this year's second quarter. [Neil Adler]

... Industrial Bank is about to return to its roots.

The commercial bank, which focuses on the minority community in the Washington area, will hear back soon from District bank regulators on its application to become a D.C.-chartered bank. That application is slated for approval, sources say.

Industrial Bank, founded nearly 73 years ago, is currently a nationally chartered bank, a status it has held since 1995. Prior to that, Industrial Bank was a D.C.-chartered bank for roughly 60 years.

As a D.C.-chartered bank, Industrial Bank would fall under the purview of the D.C. Department of Insurance, Securities and Banking rather than the Office of the Comptroller of the Currency, which regulates a wide range of national banks.

"We're just [coming] back home," says Doyle Mitchell, president and CEO of Industrial Bank, and the grandson of Jessie Mitchell, who helped founded the bank in 1934. [Neil Adler]

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